Stochastic differential games for which the open-loop equilibrium is subgame perfect.

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dc.contributor.author Josa Fombellida, Ricardo
dc.contributor.author Rincón-Zapatero, Juan Pablo
dc.date.accessioned 2022-04-28T14:02:12Z
dc.date.available 2022-04-28T14:02:12Z
dc.date.issued 2018-06-01
dc.identifier.bibliographicCitation Josa-Fombellida, R., Rincón-Zapatero, J.P.(2018). Stochastic Differential Games for Which the Open-Loop Equilibrium is Subgame Perfect. Dynamic Games and Applications, 8, pp. 379–400.
dc.identifier.issn 2153-0785
dc.identifier.uri http://hdl.handle.net/10016/34654
dc.description.abstract It is generally admitted that a correct forecasting of uncertain variables needs Markov decision rules. In a dynamic game environment, this belief is reinforced if one focuses on credible actions of the players. Usually, subgame perfectness requires equilibrium strategies to be constructed on Markov rules. It comes as a surprise that there are interesting classes of stochastic differential games where the equilibrium based on open-loop strategies is subgame perfect. This fact is well known for deterministic games. We explore here the stochastic case, not dealt with up to now, identifying different game structures leading to the subgame perfectness of the open-loop equilibrium.
dc.description.sponsorship We gratefully acknowledge the constructive comments of two anonymous referees and the associate editor. Support from the Ministerio de Economía y Competitividad (Spain), grants ECO 2014-56384-P, MDM 2014-0431, and Comunidad de Madrid, MadEco-CM S2015/HUM-3444 is gratefully acknowledged.
dc.language.iso eng
dc.publisher Springer
dc.rights © The Authors 2018
dc.subject.other Stochastic differential game
dc.subject.other Open-loop strategies
dc.subject.other Feedback strategies
dc.subject.other Markov perfect nash equilibrium.
dc.title Stochastic differential games for which the open-loop equilibrium is subgame perfect.
dc.type article
dc.subject.eciencia Economía
dc.identifier.doi https://doi.org/10.1007/s13235-017-0221-y
dc.rights.accessRights openAccess
dc.relation.projectID Gobierno de España. ECO2014-56384-P
dc.relation.projectID Gobierno de España.MDM 2014-0431
dc.relation.projectID Comunidad de Madrid-S2015/HUM-3444
dc.type.version acceptedVersion
dc.identifier.publicationtitle Dynamic Games and Applications
dc.identifier.publicationvolume 8
dc.identifier.uxxi AR/0000021367
dc.contributor.funder Ministerio de Economía y Competitividad (España)
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